In a report released by ResearchandMarkets, the PU coatings market was valued at $18.26 billion in 2022 and is anticipated to grow with a CAGR of 5.21% through 2028.
In trend research released last fall, the company stated that the traditional automotive color wheel was going through a transformation. The recently released color report shows, among other things, that achromatic colors, which have always formed the foundation of automotive color, are experiencing a significant shift.
Digitalization has the potential to drastically transform the coatings industry, allowing for better knowledge management, accelerated innovation, and improved data security, while reducing product launch time to market. Digital transformation through AI, ML, and PI strives to bring innovative coating solutions in a sustainable, responsible, and accessible way.
Fiscal 2024 sales were a second-quarter record and were in addition to strong growth in the prior-year period when sales increased 9.3%. Pricing was positive in all segments as they catch up with cost inflation.
A recent market report from RatonalStat anticipates the global anti-bacterial nanocoatings market to surpass US$ 4,466.2 million by 2030, observing a growth rate of over 21.8%, annually.
The specialty coatings market’s projected growth is driven by technological innovation, environmental consciousness, and industry-specific demands. As industries continue to seek tailored solutions for their unique challenges, the market is set to play an increasingly pivotal role in shaping the future of numerous sectors worldwide. This Global Market Insights market report details the current and future market drivers.
As the go-to sources of information for the paint and coatings, and adhesives and sealants industries, PCI and ASI continually strive to make it easy for you, our readers, to connect to suppliers and services that will help you and your companies grow and succeed.
Commercialization of 3D printing, the increase in popularity of electric vehicles (EVs), and climate change-related challenges are highlighted as three major global trends affecting coatings industry growth and leading innovation efforts.
Several coatings industry trends are powering incredible innovations in manufacturing and materials science, from green coatings to self-cleaning coatings and more.
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